Why do you think that the iron and steel industry is basic to the industrial development of any country?

Iron and steel industry is highly important for the development of the industrial sector of any country. Almost all the sectors of the economy use the products manufactured by the iron and steel industry for the production of their output. No industry can function without the usage of machines, and these machines are produced nowhere other than by the iron and steel industry. Thus iron and steel industry is the main supplier of physical capital to the industries, that is the machines, and without this supply of physical capital, no industry could have produced even a meagre amount of output.